What is concerning to me is that revenues were also down YoY…not sure why when consumption is in full swing…
Increase in loss can be margin pressure but revenue down significantly was not expected by me…
Also, anyone aware whats the traction in manufacturing for export? I remember the CEO said couple years back that they want to increase exports multifold…not sure whats the status there…any YoY change would be good to track…
They have some pledge share also…I think very few MNC would have pledge share…seems a bit odd to me…The inventory levels are also high it seems…is it same for other consumer durable companies also in last year?
Lastly, this is a joint venture between johnson control and Hitachi but seems that Hitachi is in driver’s seat…whats the vision of these two companies for this JV? Does anyone see eventually Hitachi making a buyout from Johnson controls?
Disc: Invested since couple years with a small allocation and added little in recent crash this month. This has been a loss making investment for me so far. With whatever little we hear of management, the vision on India being manufacturing hub for export and new & relevant product launches for India is there, but numbers have not been good so far…Not a buy/sell recommendation.
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